Oil Rises Amid Positive Market Sentiment
0011 GMT — Oil rises amid positive market sentiment after a federal trade court on Wednesday struck down President Trump's tariffs. The Court of International Trade ruled that Trump didn't have the authority to impose sweeping tariffs on virtually every country, voiding the levies that have triggered a global trade war. 'However, expectations that OPEC+ will press ahead with plans to raise output, potentially by 411,000 barrels per day in July, could continue to weigh on the market,' says George Pavel, general manager at Naga.com Middle East, in an email. Front-month WTI crude oil futures are 0.8% higher at $62.32/bbl; front-month Brent crude oil futures are 0.7% higher at $65.33/bbl. (ronnie.harui@wsj.com)
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